Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1887-06-08

ton, and by wise and judicious admins
tration place the College in the front rank
of the leading institutions of learning in
the land.
CONSOLIDATION EFFECTED.
The meeting in Columbia last week of
representatives of the Georgia and Carroll
ma Midland and the Charleston, Cincinna-
ii and Chicago Railroad resulted in a con-
solidation of the former with the latter,
and it now passes into the control of the
Massachusetts and Southern Construction
Company.
The News and Courier publishes the fol-
lowing as the terms of the consolidation
First. The mode of carrying this consolida-
ton into effect shall be that described by the
law of South Carolina as found in the General
Statutes of South Carolina, 1882, Part l, Title II,
Chapter 40, Sections l,425. l,426, l,427.
Second. The name Of this corporation formed
under this agreement of consolidation shall re-
main and continue to be the charleston, Gin
cinnati and Chicago Railroad Company"
Third. The present directors for the current
year Of the Charleston, Cincinnati and Chicago
Railroad Company, shall continue to be the
directors of this Company until others are
duly elected and qualified in their stead.
Fourth. The number of shares in the capital
stock of this corporation shall be 10000.
Fifth. The par value Of each share Of stock in
this company shall be $3.50.
Sixth. The manner of converting the capital
stock of the said Georgia and Carolina Mid
land Railroad Company" into that OF the
"Charleston, Cincinnati and Chicago Railroad
Company" shall be as follows: Every owner
of shares of the capital stock of the Georgia and
Carolina Midland Railroad Company shall be
entitled to one share OF the capital stock OF
the Charleston, Cincinnati and Chicago Rail
road Company of the par value Of $3.50 each for
each four shares held by him, and for any
of shares less than four, scrip of the
Charleston, Cincinnati and Chicago Railroad
Company to represent such fraction OF shares.
Seventh. The annual meeting of the stock
holders o. the company shall be held on the
noon, at the Charleston Hotel, in the city of
Charleston, S. c., at which meeting it will be
in order to transact any business within the
power Of the corporation.
Eighth. The stockholders in general meeting
NAV adopt bylaws providing for the election
of such other officers and agents as the inter-
ests Of the company may require and for the
removal of any of it's officers already elected, or
for such other purposes as they may see fit, and
the present bylaws Of the charleston. Gin.
cinnati and Chicago Railroad Company shall
govern until others are adopted.
Ninth. The seal Of the company shall consist
of the words charleston, Cincinnati and Chi
cago Railroad Company" in a circle, and 'or-
ganized September, 1886, in the centre.
This was signed by all the directors,
with the exception of w. T. Gary.
Resolved, That said agreement is hereby
adopted as the act of the stockholders Of this
company, and that the directors are hereby au-
thorized and empowered forthwith and as rap
idly a possible, to carry out the details Of the
provisions Of that contract, and to do anything
which may be required to be done to complete
said consolidation which this body as stock
holders can legally do.
The next resolution passed required that
before this consolidation should take effect,
the Three C's should pay off all the float
ing Indebtedness of the Georgia and Caro-
lima Midland.
The secretary of the meeting was re-
quested to file the articles of corporation in
the Office of the Secretary of State.
The auditing committee of the road,
Messrs. A. J. Morris, J. H. Day and z. r.
Snyder, were continued as the auditing
committee until the accounts can be
Strengthened and settled. All the offices
ofthis road will be vacated and the direct
ors are no more. The great Three Cs has
taken in everything and will have the sole
management and direction.
Of the effect of the consolidation in
Edgetield, the home of President Mitch
ell, the Edgefeld correspondent of the
News and Conrier writes:
Some of our people express themselves
rs being entirely satisfied with the re-
suits and the terms upon which the con-
solidation is based, which is generally un-
derstood to be that the entire rOad-bed
and the future management of the Car
olina Midland is to be turned over to the
Three C's company, which ssumes the
liability of the road and its future and
final building, without, however, any
definite stipulation as to the time work
is to commence or end. .
This last feature of the terms of consoli-
dation is thought by some to be a liberality
too general and indefinite on the part of
the merging company, and is thought to
be the %deathbloW, while others, who have
unbounded confidence in the good faith
and financial ability of the Charleston,
Cincinnati and Chicago corporation, feel
assured that this mammoth enterprise
will, without any delay, extend its gil
gantic hand and soon fashion our long eX-
pected and delayed road into running
shape. We have good reasons from past
experience to approach railroad CONSOLE
dations with temerity and misgivings, but
the sequel to this one it is expected and
confidently hoped will prove that it is a
good thing. There is every reason why
the controlling company should build this
road, and that speedily. 1t will, among
other things, be a good feeder for the
main trunk, and we believe the Carolina
directors will not allow the confidence
placed in them by the consolidators and
the interest of the people along the route
to suffer by not having the road built.
THE RISE IN COFFEE.-The increase in
the price O fcoffee is becoming aserious mat
ter. It is double to-day what it was a year
ago; and as we are the largest coffee con-
Stunning nation in the world, this means
that what we paid $40, coo, 600 for last year
will cost US $50, 900, 600 this year. Last year
we consumed 537, 2l1 900 pounds of coffee;
if we consume an equal quantity this year
it will, at present prices, cost consumers
S154, 900, 600. The increase of the per cap
tia consumption from 2.43 pounds in 1865
to go pounds in 1886, shows how largely
the article is used by all classes of the peo-
pie as a stimulant beverage and how i'm
portant it is that the price should be low.
The doubling of price in the last eight
months is ascribed partly to a disease that
has attacked the leaves of the coffee tree in
Asiatic and East Indian coffee districts, a
reported short crop in Brazil and specula-
tive schemes in New York to take advan-
tage of these facts. 1t is probable that
high prices will have the effect of reducing
the quantity consumed one-third and fore
ing excessive adulteration Of the other
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